AAPL Intraday Updates (Archive)

A general strike uniting public and private sectors hit Portugal today. Protest is against government moves intended to calm down debt-market apprehension.

The Irish government is to announce details of its austerity plan later today. Discussions continue on the rescue plan to be put in place by the European Union and the International Monetary Fund. Standard and Poor?s cut the long-term sovereign rating on Ireland to A from AA-.

Euro-zone September industrial orders fall 3.8% against an expected fall of 3%. German business sentiment improved sharply on the other hand. British gross domestic product expanded by 0.8% Q3 and compared to same period last year, GDP expanded by 2.8%.

The United States announced today that it would hold military drills with South Korea in the Yellow Sea starting on Sunday. The USS George Washington carrier strike group left Japan to join Republic of Korea naval forces for exercises in the series announced in July. In the meantime North Korea continues its propaganda war against the World.

Summing up, the inflation problem in China persists, Ireland, Portugal and Spain still have an unresolved debt issue, North Korea continues to challenge the Republic of Korea - United States alliance and in the domestic front, the FED lowered its growth forecast for 2010 and 2011.

Global markets are starting to find footing after yesterday?s selloff. Europe is mostly up and Asia ended mixed, but off of lows.

Jobless claims sink 34,000 to 407,000. Weekly claims now at lowest since 2008. October durable-goods orders down 3.3%. Core inflation PCE up record low of 0.9% year-on-year.

Major indexes held above last week?s lows. The DJI managed to close above its 50-day moving average after testing below it. Markets are oversold and set to rally. However we are still on the midst of a correction.

Are we ready to rock and roll?

USDX at 79.75 down flatly -0.02%. Euro at 1.3355 down -0.13%. British Pound at 1.5795 up 0.11% and Canadian at 0.9856 up 0.96%. Japanese Yen at 1.1989 down -0.29%.

There is talk on seeking alpha site about a possible slingshot move higher based on this past Monday Move, which was derailed a bit by a North Korea tantrum. It appears to be back on track for today and Black Friday. This could mean 320 on Friday and possibly another 10-20 pt move by Dec 10

I like this move and expect us to get to the 330 range before too long. Apple is firing on all cylinders and this next 16mo. period is going to be huge (duh). With the current products in the pipeline, new sources like daily newspapers, the NC data center coming online and expanded mobile services, potential lawsuit wins (eventually something will happen and I believe it will be in Apple’s favor), new carriers for the iPhone and the explosion of the iPad (we haven’t seen anything yet), the huge improvement on the MBA, etc. They must be as giddy as I am in Cupertino.

The U.S. Attorney in Manhattan today announced the arrest of Don Ching Trang Chu, seemingly starting the next phase of the massive government investigation into insider trading.

Chu, an employee at an ?expert network? firm, has been charged with ?conspiring to promote the firm?s consultation services by arranging for insiders at publicly-traded companies to provide material, nonpublic information to the firm?s hedge fund clients for the purpose of executing profitable securities transactions,? according to a press release this morning.

We?ll have more as it comes in. UPDATE: Our Journal colleagues reported Chu has been listed as an Asia expert for Primary Global Research, identified earlier as one of the web of firms whose consultants are under investigation by federal officials.

Still can’t break 315 with conviction. Noticing since it attempted to break 315… lower highs on subsequent tries.

Past few weeks present many opportunities for swing and day traders. For those who are uncomfortable to trade on margin like Eric and omacvi, weekly options are good replacement for shares, small outlay low risk high return.

Hellooo! Anybody there? Volume is coming to a halt on a already thinly traded day. Wonder if someone is going to bother to show up for the half day session next Friday. Maybe the machines, but who knows?

A lot can happen until Friday (or Monday) in China, Ireland, Portugal or Korea. The Irish government earlier today unveiled its four-year plan to cut public spending and increase taxes. Corporate tax rate will be kept at 12.5% though. The USS George Washington leading a carrier strike group is on its way to the Yellow Sea were joint U.S. - South Korean war games are set to begin Sunday.

The first arrest in the insider-trading investigation happened today. Hedge funds and mutual funds are on the microscope but the individual taken into custody is an employee of an “expert networking firm”, that render services to connect consultants with investors looking for detailed information about industries and companies.

USDX at 79.745 flat. Euro at 1.3351 down -0.16%. FXE -0.19%.

DJI at 11,182.40 adding 145.88 points up 1.32%

SPX at 1197.59 up 1.42%. A test of resistance at 1200 may happen soon. Watch for possible pullback.

NDX at 2161.92 up 2.14%.

VIX at 19.03 down -7.76. Rebounding a bit from late 18s.

XLF up 1.18%. BAC at $11.24 up 1.41%, JPM at 38.02 up 1.04%. C at $4.17 up 1.71%.

AMZN at 177.09 up 5.29%. CREE $63.75 up 8.97%. Outperforming the market.

AAPL at $314.77 up 1.96%. Volume at 11 million shares traded. Low $311.75 and high $315.40.

Still on correction mode and until otherwise, this is a relief bounce. Caution is warranted as there are many macro headwinds.

Still can’t break 315 with conviction. Noticing since it attempted to break 315… lower highs on subsequent tries.

Past few weeks present many opportunities for swing and day traders. For those who are uncomfortable to trade on margin like Eric and omacvi, weekly options are good replacement for shares, small outlay low risk high return.

Because I’m architecturally distracted while exploring integrating zero-emmission building into the next potential project and my trades are high percentage profitable, with the exception of options, I’m trading with cash from a margin account because doing so lowers my operating costs and because like Elder says, traders cannot risk everything on one trade so why leverage up?

You can look at what I found while I perfect the run-on sentence through the inclusion of the dangling participial.

You will be feeding my third largest position LDK SOLAR, an up and coming integrated SOLAR CELL/POLYSILICON producer in China. One that I have waited now paitently for going on two years to actually get up from the construction phase, and into the mass making money pumping phase.